A strong Australian dollar and one-off costs connected with a major product recall have slashed Cochlear's profit by 68 per cent.

The hearing implant maker incurred one-off costs of $138.8 million before tax when it recalled its CI500 series implant in September last year.

After tax, the recall wiped $101.3 million from the company's full-year net profit, which came in at $56.8 million, down from $180.1 million last financial year.

The profit slide was exacerbated by a 4 per cent fall in revenue to $779 million, although sales were up 1 per cent if the value of the Australian dollar was held constant between the two years.

The Americas was the weakest region for the company, with sales down 2 per cent excluding exchange rate effects, while European, Middle East and Africa (up 2 per cent) and Asian (up 4 per cent) sales were both higher on a constant currency basis.

The number of implants the company sold around the world fell 6 per cent to 23,087.